"Most people go into their degrees, hoping it'll be the golden ticket to well-paid office jobs after graduation day-especially given the sheer amount of hours and thousands of dollars (or pounds, in my case) they've committed to getting the qualification. But past college grads have a brutal reality check for bright-eyed Gen Z: It wasn't worth it. At least, from a financial standpoint."
"While at the time, the grads surveyed expected they'd land an entry-level role paying around the $52,000 mark after graduating, the reality was stark:Most started out on around $35,000. Those who studied law saw a $30,000 drop between their desired salaries and what they actually got offered after graduation. Those who studied education landed roles paying around $25,000 less than they'd imagined. And arts and humanities students thought they'd land $50,000 roles straight out of college, but actually got entry-level job offers at $30,000."
Thirty percent of graduates report they are not financially better off after obtaining degrees, and many are actually worse off. Most graduates borrowed between $25,000 and $49,999, while a quarter owe over $50,000, with repayments continuing for years. One-third delay saving for a first home and postpone retirement by about a decade. Fourteen percent delayed moving out or starting a family because of student loans. Graduates expected entry-level salaries around $52,000 but commonly began near $35,000, with law, education, and arts graduates experiencing substantial gaps between expectations and actual offers.
Read at Fortune
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